subject: Finding The Right Credit Card Even With Bad Credit by:Melissa Kellett [print this page] Given the credit card market growth and the variety of credit card options available, it is wise to do a thorough research before applying for a credit card in order to get a good deal and the credit card that best suits your needs.
Wide Range Of Options
You can find that the credit card industry now provides many different options ranging from rewards credit cards; airline rewards credit cards, business credit cards, low interest credit cards, student credit cards, sub-prime credit cards, and secured credit cards and so on.
If you're planning to pay off the full balance of your credit card every month, you will get the best deal with a cash back credit card, because at the end of the year you will receive a sum of money that you will use at your sole discretion. This is an excellent benefit that you will be able to use for going on vacations, buying presents, putting money aside for saving and many other purposes.
But if you plan to use your credit card for finance, not being able to pay the full balance each month, you will be wise to find a credit card with a low interest rate. You can even take advantage of certain offers that provide a 0% rate for a couple of months. You should know that credit cards have different types of interests and you should be familiar with them since they will determine how much extra money you will be spending by making use of credit cards.
Interest Rates
There is a Purchase Interest Rate that's involved in the buying of products and the provision of services. There is also a Balance Transfer Interest Rate that will come into sight when you choose to transfer your credit card balance from one card to another. Finally there is a Standard Variable Rate which is charged when there are balances left unpaid on a credit card.
Bare in mind also that there are other fees that can appear in your balance and you should read your contract carefully in order to be aware of any fees that may emerge in the future if certain conditions established in the contract occur. Penalty fees are a good example of this. When you miss payments or pay late, you will incur in penalty fees, sometimes in the form of a lump sum others in the form of interests on the money you owe and some times you may be charged both the interest and the fee. What you need to check is that these fees come in reasonable amounts. It does not make sense being charged $70 for going over your limit just by $1.
Search Online
There are many companies offering online comparison and advice services that deal with credit cards. This is a good option for those who want to make a conscious decision and compare the variety of rates and benefits that the market has to offer. So, just search the net and compare different credit card offers to see which one best suits your needs.
About the author
Melissa Kellett is an expert loan consultant who has worked for twenty years in the financial industry and helps people to repair their credit and get approved for home loans, unsecured personal loans, student loans, consolidation loans, car loans and many other types of loans and financial products. If you want to learn more about Unsecured Credit Cards and Credit Card Consolidation you can visit her site http://www.speedybadcreditloans.com
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